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Market Stages Tremendous Rally.... On 40% Of Recent Volume
When witnessing this latest vapor volume melt up, what can one say but victory for the bulls... Oh yes, ignore that the relentless rally is on 40% of the past 10 day average volume. 1.8 million ES contracts on 4.46 million 10 DMA. Irrelevant: inverse distribution or something is the conventional spin. Europe is fixed, and no recession is coming - just cover any and all shorts before Google buys them all. Also ignore when a month from today we are back to the level when two ES contracts send the market limit up.
And for those wondering why ES volume actually matters, here is your answer - ES afterhours.
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Risk on!
We need a green arrow to highlight the surge in volume, and a red arrow to highlight the mkt drop, to put it all in "perspective".
Just as the Mideast is about to blow?
http://thespiritoftruth.blogspot.com/2011/08/turkey-threatens-syria-with...
Yep....everyone is missing that the mid east is about to blow. Ive been warning about it for weeks. Just wait until the ICBM's start flying for some market volatility!
missiles and markets both go up, don't they?
@the spirit of untruth
You gotta be kidding me... so it's not "the jews" but the russians who have destroyed western society with their russian fetzen... IDIOT
About MeLMAO! What a fucking joke!
BUT these days there is NO SUCH THING AS LIMIT UP!! ONLY LIMIT DOWN when the fuckers say so!! They will get bitch slapped real soon when gold spikes $100 in a day!!!!
Price matters. Volume doesn't. A disappointed perma bear who just doesn't understand the concept of rallies. Too bad about that. You were told right here, over and over again, that the reflex rally was coming; it's here. Get over it. Your big crash has been delayed due to technical reasons. Check back next year.
Next year? LOL
You fucking moron. It's a dead cat bounce. Another 300 for the DOW at most before the downturn resumes
I'm going to have to go with Sun...HOWEVER, NO ONE KNOWS DICK. The market is totally and artifically contrived... I will say that price only matters yes HOWEVER the point is that volume at 40% of normal is not widespread participation and is BS. Empire index 3 declines in a row, europe faling apart, 2 bailouts no improvement? The market should be at 5k, the fact it's not mean it can do anything..
The price my ass.
I lured out a few coin at ones and two'sies this morning at very ludicrous low prices. I was hoping to trap a buyer.
It sat for two days and nights.
Price yea right.
Upon reflection I think the market is like a dark room filled with people playing spin the bottle and saying "You first."
LOL.. what a joke.
edit: followed by usual immediate decline of the SPY as it trades in the after hours.. ha ha ha
Please don't soil the good name of jokes everwhere by associating them with this epic bullshit.
don,t mess with SPX 666 or SPX -6.66%. Both days the symbol signalled the lowest daily close for at least a week.
that,s some heck of a fat tail probability.
cant wait for silver hitting 66.60 or does that only work on reverse movements of the SPX?
We just had a 7sigma oversold low. It had to bounce
as in fanny and fred and aig and gm, please complete the list yourself.
Seller fatigue.
Only need a teeny bit of organic buying to set the machines in motion,
It's so nice to see that the normal insanity is back.
Yeah man....I was beginning to worry that actual fundamentals were going to return after last weeks roller-coaster ride. Looks like the recent load of hopium got distributed to the dealers just in time!
Thanks Bennie and Nobama!
Yep, the 11:30 EST bid-this-fucker-up-relentlessly switch was flipped. It's conitinuing on in the AH.
There is literally nothing of any integrity remaining in this. None.
Correct. Banker desperation. You can just smell it. The trouble this time is that the economic data confirms recession. No one wanted their paper shit during the 2 year long rally, and now Average Joe is taking the gain and exiting.
These guys are one SEC enforcement action from a complete market meltdown. And while that continues to seem like a low probability event, the SECs continued failure to do anything about all the bullshit market manipulation going on day after day on these melt ups will only pound the last nail in the market's coffin.
The bankers cannot continue to be highly leveraged in a recession bound market...and so they need people to sell this shit to. And of course, gold confirms this.
Looks like a lose/lose situation to me. Thank you, criminal syndicate known as Wall Street.
Let the Greater American Depression roll on then........
And the S&P downgrade was something totaly unexpected and deemed impossible as well, untill it suddenly dropped 1 morning out of the blue. After all, we'd had our souls sold for us and reached a 'compromise' and all. Hey good luck to everyone in their filet mignon wetsuits swimming with great whites saying you'll carve great steaks for the BBQ from them. Yea.
untill it suddenly dropped 1 morning out of the blue.
- - - - - - - - - -
Evening - and a Friday to boot if I recall ...
All the really nasty shit is reserved for Friday after close. Christmas Eve even better.
Actually it was out Thursday morning.
Do you really think the SEC or any government agency is going to take down Wall Street?
Not a chance, but they are going down. Silver is their achilles heel. Although Nathan Rothschild is already positioned in the HKMEX so it's not like they'll go away when JPM and GS crash. It will be a hollow victory and most people will probably go back to sleep.
P.S.
Change your avatar please. I come here for the boobs.
Hey CD average joe got burned down about three years ago. No average joes left in this casino.
The Bulls will be all over TV tonight. They told you!!
http://www.youtube.com/watch?v=iL0Qt7IF8Q4&feature=related
Sickening
WHOO HOO! Yea! Bernank Goin into Jacksons Kornhole to make the case for QE3 free trillions to save the markets with the DOW pumping +200 daily and easily!
It is unreasonable to measure today's volume and compare it to recent volume, which was massive. Yes, a pullback is probably coming for a few days, but looking at volume in this manner is incorrect from a trading perspective. Obviously volume at a major low will be higher than a major top, so average volume will dry up as professionals buy at the lows, prices rise and amateurs get on board the move. If people expect 4 million contracts to be traded every day on the e-mini, they are not really well versed in how markets function.
Um, volume was at record lows a couple days ago and -700 points lower too.
I think you missed the point: The mkt is getting back to "normal" with ONE-WAY rallies on low volume. Of course it can't trade 4-6 million/day, but +20 handles on light volume is silly...pardon me -- it's normal.
Im well versed in how markets function Ben
Step 1- Turn on algo trading robot.
Step 2- ????
Step 3- PROFIT!!
I wouldn't be surprised if, via globex midnight pumping and the other various techniques, they jack this bitch right back up to the top, trapping the bears once again.
With all due respect, it would seem that some would not know a "Normal Market" if they saw one. Understandable I suppose since we haven't seen a "Normal Market" in this country for about 9 years or so when the Masters Of The Univesrse Took Control.. May i suggest you go back and look at charts from the early to late 90's (Before it got Rediculous) if you want to see what a "Normal Market" looked like. Typically, you would see Heavy volume on up days and Light volume on down days. The reason of course is because people actually wanted to own stocks. It was a wierd time when stocks were actually considered an investment - and were bought by Real people using their own Real money. It was so crazy that corporations actually made profits from selling shit as opposed to a collapsing currency and a strong dollar was actually considered a sign of a strong economy. Hell - it was so crazy that people actually use to pay their mortgages rather than defaulting on their mortgages and taking the money they should have paid their mortgage with to go out and buy gadgets like I Phones and I Pads. CRAZY I TELL YA - shit people use to actually buy their own groceries rather than sitting on their ass waiting for their food stamps to arrive. People actually had jobs back then - and well qualified applicants were in such demand that companies use to get into bidding wars for their services. We even had this thing called a Trade Surplus of all things -- weird shit like that! NOW - if you mean by "Professional Traders" you mean the FED and the PPT - then YES - you are probably correct since they came in with billions of dollar and bought up S&P Futures to make the bottom and delay the inevitable reality a little longer. But to think that Low volume Melt Ups and High Volume Sell Offs are representative of "Normal" in a supposed Bull Market -well I am afraid that is a mistaken concept.
+1
Yeah, thumbs up to that.
LOL with Masters of the Universe... I had a flashback: http://www.youtube.com/watch?v=fO1ChfM94yQ
I think the U.S. needs to start a few more wars so we can bring this Free Market Capitalism to Everyone
LOL
LOL
RB I've enjoyed a multiplicity of your avatars this evening.
In the pipeline ... don't worry ....
Killing, polluting & bankrrupting is the american way - since 1848 :-P
Someone with graphic posting rights please post the IYR 10 day chart....
Un-be-fucking-lievable. I guess they are pretty serious about cornholing all the put holders, again...and again....and again.
More wealth in fewer hands.
It's the LOW valuations and flurry of corporate deals, bitchez. Lol! No matter where equities trade it's always the LOW valuations.
http://www.bloomberg.com/news/2011-08-15/u-s-stock-futures-increase-s-p-...
Exactly, all is well and no QE3 needed at all. In fact things are so rosy in the markets Ben will probably announce raising rates 2% or so. Yea Im sure.
And housing boom is just around the corner. And it will last 4ever!
http://www.finalternatives.com/node/17736
Wall Street Bonuses Falling, But Not For Hedge FundersAug 15 2011 | 12:54pm ET
Bonuses are expected to tumble precipitously on Wall Street this year—but not for the alternative investments industry or the bankers who serve them.
PUMP THOSE STOCKS!!
MUST HAVE PAPER PROFITS!!!
MUST MAKE BONUS HAPPEN!!!!
How in the hell is that even possible?
In Bernanke's world, gravity is not a factor.
Gravity is a law and was abolished by him.
Damn g.
Poor Poor Buffalo Wild couldn't make it into positive territory for the day. Lulu, Priceline, Fossil, Hansen, and even Sodastream fought off early losses to recover healthfully in the green.
Priceline solidified above $500 and Soda made it back above $50.
Is it a joke? Well it really is but the joke keeps going higher on no volume. It's easy to get a stock to go up when one computer issuing a buy up a few bucks causes the others to follow suit. There can be no fundamentals when those who trade can't actually experience anything outside their programming.
I really want to know how an analyst can just come out and issue a 20% higher price target on a stock with nothing to back it up and yet the stock almost always makes it there. I guess the answer is that by telling a computer that a stock should trade 20% higher the computer program will make it so.
The last two weeks have been wiped clean. It's the late june swoon all over again. Will we get a 20% rally in September? The signs point to yes.
And you'd think Ben would use this time to keep a lid on markets, even make them go down some in preparation for Jackson Hole and the much-anticipated and baked in QE3, but no markets are being manipulated wildly skywards on zero volume.
Unless....there is no QE3 massive free gift to stocks and this is the top for quite a while.
Check and the buying is being directed to the computers by gullible fools.
Robo...is that you?
Does sound like him.
Actually, if you break apart that first paragraph it reveals him (her) to be none other than Dr. Seuss!
Poor Poor Buffalo Wild couldn't make it into positive territory for the day.
Lulu, Priceline, Fossil, Hansen, and even Sodastream
fought off early losses
to recover healthfully in the green.
Pure Desperation! Coming Soon!
it doesn't pay to be short when the joke is out
Not only that, but they are ram-rodding the shit out of the usual suspects. Playing the same fucking game over and over and over and over.
And theyre wildly jamming the 100 P/E momos higher on the eve of Jacksons Kornholing? WHY?
I think something incredibly stupid is about to happen here.
I have no idea other than they are allowing 'someone' to just game the shit out of them to make loads of money. Clearly the SEC could give a shit less and the country is 'better off' having these 'key' sectors healthy.
Valuations obviously mean jack shit. It's just matter of which way they want to gun them daily. It's a fucking joke at this point.
"I think what is required here is for someone to do something so off the charts so gratuitously vile that the world can not recover. That a time-out is called just on the basis of one action. That everyone is so scared shitless that they run into the streets and hug their fellow man. whom they wouldn't be caught dead even walking next to."
Not a 9-11, that's for punks.
Not a Fukushime, amatuer hour.
No what we need here is the complete annihilation of a large populated area by a force that can not be reasoned with.
A true game changer.
And if I can write this you know, you just know, in some sick think tank this has been planned and is coming down the pipe.
Alien Invasion anyone?
The con artist, just about to be caught, scares the marks so near to their deaths that they thank God Almighty when he pulls a Hegelian and "saves" the day.
And then the marks present him with the Roast Beast: "Please, Sir, you were Wonderful."
And those idiot enough to screech about the obvious scenario will face the Inquisition for even breathing near a microphone or putting out a YT video.
Krugman was talking about an alien invasion yesterday, and not jokingly either.
Please let these aliens be sexy. At least give us that.
http://beforeitsnews.com/story/950/890/CNN-Niburu-Is-Real-Planet-X-Nemesis_Throwing_Comets_Our_Way.html
If that is the case then I will rejoice in the total freedom to deploy the weapons against these Aliens without fear of prosecution.
We humans backstab and betray each other every day in a variety of ways, but pull together like the cooter sisters in the trailer park as one big united family if the aliens did invade.
I for one would like to have a drop ship instead of a Chevy Volt at the house.
Tomorrow southwards?
Euro bonds "no topic" for Merkel and Sarkozy at their meeting in Paris tomorrow.
In German (edited!):
http://www.faz.net/artikel/S30638/schuldenkrise-eurobonds-kein-thema-in-...
No way eurobonds can be announced. They simply cannot be implemented and Germany is sick of bailing everyone out
germany has to play according to TPTB. The country shall be defeated a third time. luckily this time financially with hopefully less civilian casualities.
"We guarantee everything to 130 %, even without any cash flow. Ich bin eine Europäerin."
"Merci, Angela."
You forgot her last name, Ferkel
Now now, even Berlusconi and Sarko will be well behaved in the presence of Miss Erika Kasner.
PIIGS: "Another round of drinks! Germany's buyin'!"
.... comment was kinda p0rn. I censored myself. Shit, I'm shorting the Departement Of Homeland Perversity .....
Isn't this about the time that Robo should be chiming in with his ridiculous "Bears are getting slaughtered" routine?
4 minutes later...enter the idiot right on cue....
I'm a bit confused. Are folks on ZH hoping for the USA to faulter and i f so, what is the reward? I'm just a swing trader using ZH as a tool to get me in a better position when the market looks bearish and a better position when it is bullish. I personally don't care for US destruction, just to have an edge when trading S&P 3X ETF's. All I can say is this has been my best year since I found this site 6 months ago.
Personally I prefer 4x ETF's.
Personally I prefer my money in a tin can and four purple micro dots.
Stop confusing equity valuations wtih patriotism and turn off Jim Cramer and his Cramerica nation. You'll start to 'get it' more.
'faulter' is not quite it.
Complete and utter collapse would be a great place to start fresh.
Yes. We want the market to go down, so it matches with the FUNDAMENTALS. Which are complete crap right now. This is a bubble, the longer they perpetuate this extend and pretend bullshit the more fucked we are.
We need to let prices adjust and stop levitating prices so we aren't stuck in stagnation for eternity!
The market should have crashed a LONG time ago, properly.
A crash done proper.
Now the markets feel like they carefully foster a garden within walls for people to enjoy as if nothing bad is happening today. That light they see is actually the fires from the inferno beyond the walls cremating block by block.
Look at the Market another way, it's a Roach Motel, you can cash in but cannot cash out.
The Sheep only knows the word Dow and it's either up or down. Not stuff like Motorola crap being exterminated by the Google bent on total control and domination of all the lives of Sheep.
Is it possible to take a tin hat and make a map of the USA 10 years from now? Only call it Google?
That's right, buy when ZH is very VERY bearish. Works every time.
I'm betting that this rally will last longer than most expect, the PigMen will run it on fumes all the way up to the 200-day.
When every last bear that shorted late throws in the towel, then it will be time to load up on DOG, SH, etc.
No "triple whammy" plays for me, as you can see FAZ, TZA, etc. have been destroyed the last few days.
Pump and dump is all it is, stupid. Bens got to commence dumping the markets hard for QE3, or dont do it at all. Last hurrah here Robo, while you pile all-in long.
OH WAIT...you already piled all-in long back at DOW 12,700 for the 'debt ceiling huge run up' remember that you big fraud?
Remember all your posts here prior to the 'debt ceiling deal' going thru where you reposted your posts from other blogs telling everyone they better be all in here at DOW 12,700 for the certain and massive run up?
Or was that all deleted?
There's the economy and then there's the eCONomy. Qe3 will be needed to ge this going. But they need to send out the trolls t drop hints for awhile months before to get the best benefit.
'Drop hints of QE3'? Hell since January QE3 has been re-priced in daily on EVERY bit of bad news coming out. Now theyre jamming the markets higher on eve of Jackson Hole...all signs to me point to this is 'no QE3' land and the last hurrah pump.
You already bet, Robo...that was back at DOW 12,700 before the debt ceiling passage nonsense where you said you were all in long with everything for the huge and certain run up. Cant you ever tell the truth and just say 'Wow, no one could have been more wrong than Robo'.
totally traded this dump and pump like a rock star, cha ching
bullish divergence bitchez!?! or is it bearish???
What, you thought the market would go straight down? Consider it a gift - this is 2007-2008 all over again.
Yep and we havent seen ANY down yet, just a bit of downdraft...S&P way under 1,000 by Jacksons Kornhole.
sheepie youre making calls you will regret. no chance s&p under 1000 by then.
Blow it out yer ass Kito! I wont regret ANYTHING and I guarantee you no matter what happens, I come out ahead!
youre the MAN sheepie!!!!!!! risk ON for you!!!!!!!
I was looking at the movements logged and economic data just from the last two weeks.
No bull market continues after such violent moves. The trend is down until QE comes in.
it is a sad, strange little centrally planned world we live in...
... especially when the authorities have run out of coke and taken to sniffing glue.
Dollar drops 1%...seems to be a strange correlation
But I thought you were just making the point that all the recent increase in volume was just quants trading against themselves??
This won't last, and they have to know it. These few days of being positive is manufactured in order to hide the fact that the market is falting.
Yup the majority of the volume selling was the evaporation of mom and pops 401k and retirement fund selling at the bottom for big losses. Now that they stole that 1.5T they come in on the low and buy the stocks back for the 25% off fire sale price courtesy of the fire they started. The good news is, with this recent rally we finally got back to the highs of OCT, 1999!!! Hahahaha what a joke
If I had to venture a guess, I'd say that most people are just waiting (as I am) for the other shoe to drop in Europe. The global debt crisis is FAR from over, and with pretty much every major economy contracting right now, there's no end in sight. To the contrary, I see the crisis accelerating rapidly in the short term. Investors are sitting on pins and needles right now and all it's going to take is for the first dominoe to fall. At which point, the markets plunge into chaos and I begin buying!
Don't you thing the Fed swapped credit for the ECU to buy 98 b euro for italy bonds?
This market is like visiting someone's house where all seems well, but you know damn well the police showed up twice or three times in the past week due to vicious incidents of domestic violence coupled with uncontrolled bouts of substance abuse. The inhabitants of the house swear everything is ok, but have not agreed to any therapy or counseling, there are still deliveries of mysterious packages late at night, and strangers are observed at odd hours "visiting." But the house looks great, the lawn is mowed and the sun is shining. So why the uneasiness?
At least you don't hear any scratching sounds from the basement. You don't, do you ?
?staged rundown to load up a QE3 frontrun? Or tinfoil
Steep ascending wedge on vapor volume = carnage inbound
two points to offfer for consideration from considerable reading over weekend:
I am not arguing anything here other than there are some oddities. Tyler has a great eye for catching relevant data patterns that do not fit the 'consensus' projection on the markets. That is why these are offered up here versus elsewhere.
"Europe is fixed, and no recession is coming"
Haw Haw you're being succinct!
New Euro-Panda Series will be saving the day.. any day now!
Kind of dumb comparing the down volume of a severe market sell-off to the subsequent up volume, don't you think?
No, not dumb. In fact what it shows is the only market activity is to the downside.
correct a dumb money or smart 'dumb' money meltup, or bull trap.
Agreed. This move lacks conviction but i will stick it out a little while longer.
Turn those damn machines back on!!!
overbought, thin liquidity, marked up distribution. mid week swing down, say 100+ points. maybe a riot somewhere, some dreadful US data and EU data...and the ECB is offically insolvant...
somthing like that, around about Wed.
thats how it goes.
Ummm...it is worse than that. Check just about ANY chart of ANY stock that got hit last week. With almost unanimity, all of them have bounced precisely to their 10 day sma. Almost all of them making the same, dumbass move...on masse.
Now...think about that for a moment. What has happened that would cause every freakin' stock in the market to make the same exact technical move? Well...hmmmmm? Could it be that the dumbass algorithmic programmers are just that fuckin' dumb? I think the answer is...YES.
There is no reason to calculate p/e's. There is no reason to search for value. And it won't take a riot or a bad speech from some European bureaucrat...no. It will fall exactly on the same catalyst which bounced it. And that catalyst is criminal syndicate Wall Street stupidity.
Sell strength in the morning...if there is any...which I seriously doubt.
I agree. Value trading is dead, hold forever trading is dead. As far as 'sell on the fact' trading, no that is very much alive. HFT's scan/mine news as does humans, so it's purely emotionally driven markets. I made money last week on mini-futures shorts on index trades, i didn't hedge it's not worth it when we are going to see big 200 and 300 point drops (Dow/EZ indexes). I find the break and and ride it down and sell at the bounce. I think this will happen ad infinitum now. But i totally agree looking at p/e multiples, looking for value is long gone - anyone doing that will have their margins destroyed.
Good post man.
already 100% out of equities for now. Have a nice trip to those who have stayed in.
Ditto on the gp Cdad. That first hour is going to be potentially juicy for the short side. Get ready for a little time travel back to last Wednesday morning. Followed by June 2010.
I agree chump.
We are all swing traders now.
i hear ya, it's on when Europe opens. Hope that crazy french f*** and gets bitch slapped by that German domatrix i.e the German backed EFSF fund won't expand to take ALL of EZ toxic crap.
Thats the bet.
and just check those narrow bid/offers on the EUR
half of asia's indexes have sunk into the red.
Who cares - avoid/evade - who can tell?
You are enslaved while I am much richer: all can tell. Your car/house makes it obvious!
So why are the 'richer' the politicians and the poorer the voters (people power)?
What is the difference between 'socialist elite' and 'capitalist elite': the method they apply for your childrens lives!
And when will the people of the world awake from the slumber of centuries: when will they protect just one child from Polititicians (society paid liars)?
Ahh - when people awake: that will be the time I missed, but died for.
Born 27 Feb 1959, died ... (who cares)
In Europe, short selling is banned, in Amerika it is punished. Very clever!
they ban short selling, the bull traps get way bigger.